Facebook (NASDAQ:FB)
Facebook just hit a significant milestone on its instagram platform as it user base has surpassed 500 million active users. The Motley Fool reported
“Today, we’re excited to announce our community has grown to more than 500 million Instagrammers — more than 300 million of whom use Instagram every single day,” Instagram said in blog post on Tuesday. “Our community also continues to become even more global, with more than 80 percent living outside of the United States.”
FB Technicals
Since the beginning of 2016, FB has trended higher along a well-established support line until a recent break lower has put shares under pressure. Currently, FB is retesting the support line it had broken last week and the price action during the retest period will provide a much better gauge as to the next directional move which is what you must try to anticipate. The 100 day SMA is sitting just below the current share price and has offered some light support over the last few days. Below the 100 day SMA, the next significant support lies between 108 and 110, followed by the 200 day SMA at 106.25.
FB Latest News
Thefly.com had the following headline out earlier today discussing the Instagram growth.
FB: Facebook’s Instagram says now has over 500M monthly active users
Facebook’s Instagram says now has over 500M monthly active users Instagram says in a blog post,
“Today, we’re excited to announce our community has grown to more than 500 million Instagrammers – more than 300 million of whom use Instagram every single day. Our community also continues to become even more global, with more than 80 percent living outside of the United States.As you’ve captured and shared the moments happening around you, you’ve formed incredibly varied and diverse communities. Whether you’re an illustrator, a sneakerhead or an astronaut on the International Space Station, every photo and video you share helps bring people closer to friends and interests, broadens perspectives and inspires a sense of wonder. You’ve made Instagram a place where the everyday and the epic are always within reach. Thank you for your creativity, your openness and your passion for sharing your worlds with one another. We can’t wait to see what you create next.”
About Facebook, Inc.
Facebook, Inc., incorporated on July 29, 2004, builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. The Company’s subsidiaries include Andale, Inc., Edge Network Services Limited, Facebook Ireland Holdings Limited, Facebook Ireland Limited, Facebook Operations, LLC, Instagram, LLC, Oculus VR, LLC, Parse, LLC, Pinnacle Sweden AB, Siculus, LLC, Vitesse, LLC and WhatsApp Inc.